Bill > HJR154

This joint resolution proposes a constitutional amendment that would allow local government bodies to create a new type of property tax exemption for residential homesteads. Specifically, the amendment would permit political subdivisions to exempt a fixed dollar amount from the market value of a homestead for taxation purposes, with an initial maximum exemption of $100,000 for the 2026 tax year. In subsequent years, the maximum exemption amount would be automatically adjusted for inflation by the state comptroller, ensuring the exemption's value keeps pace with rising prices. The resolution provides flexibility for local governments to implement this exemption while also protecting existing tax obligations, such as previously pledged debt. The proposed amendment would take effect for the tax year beginning January 1, 2026, and would be subject to voter approval in a November 4, 2025 election. The amendment also allows homeowners to receive this new exemption in addition to other existing property tax exemptions, potentially providing significant financial relief for homeowners.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HJR154